Statement re NatWest Bank Offer Press Reports
Royal Bank of Scotland Group PLC
16 November 1999
The Royal Bank of Scotland Group plc
The following announcement is being made by The Royal Bank of Scotland Group
plc ('RBS') at the request of the Takeover Panel:
Prior to 14th November 1999, the Sunday Express obtained unauthorised access
to an internal briefing note prepared by one of RBS's advisers, which was
subsequently referred to in an article in the Sunday Express on 14th November
1999. This early draft document, which did not contain quantification of the
pricing of, or merger benefits arising out of, a possible offer by RBS for
National Westminster Bank Plc, was not prepared to Takeover Code standards
and accordingly investors should place no reliance on information derived
from it.
The existence of the internal briefing note should not be interpreted as
constituting evidence of a decision whether or not to make an offer.
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